The US Department of Justice (DOJ) has requested six to eight weeks to gather evidence for its case against Alex Mashinsky, the founder and former CEO of cryptocurrency lender Celsius.
In a court filing on Tuesday, Judge John G. Koeltl announced that the next conference for the case will take place on October 3.
The extended period is necessary to ensure proper legal counsel and to allow sufficient time for both the government and the defense to review the extensive evidence due to the complexity of the case.
To comply with the Speedy Trial calculations, which ensure trials commence within 70 days of filing charges, Judge Koeltl excluded the time between July 25, 2023, and October 3, 2023.
This exclusion gives the DOJ sufficient time to process a substantial volume of Celsius' corporate records and communications, including over 1,200 videos of ask-me-anything sessions involving Mashinsky and other Celsius executives, some of which exceed an hour in duration.
Mashinsky, who was arrested earlier this month, pled not guilty to charges of securities fraud, commodities fraud, wire fraud, and conspiracy to manipulate the price of Celsius' token, CEL.
His defense attorney, Marc Mukasey, represented Mashinsky in court. The trial date is yet to be determined.
Judge John G. Koeltl previously granted Mashinsky's legal team extra time to meet the requirements of his $40 million bail.
The DOJ unsealed the indictment against Mashinsky on July 13, alleging that he, along with Roni Cohen-Pavon, the former chief revenue officer of the crypto lender, orchestrated a scheme to defraud customers of Celsius Network.
The indictment further claims that Mashinsky made false statements, manipulated the price of CEL, and attempted to deceive investors
Read more on cryptonews.com